Molson bills itself as the UK’s largest independent distributor of capital equipment to the construction and waste management sectors. It is back by BGF (formerly Business Growth Fund), which first invested £6.3m in 2018. That helped Molson acquire Scottish equipment dealer Finlay Group from Terex.
The second round of funding will be used to develop Molson’s existing sites and brands, as well as expand its international and waste management offerings.
Specifically, it will be used to redevelop Molson’s Avonmouth headquarters site into a centre of excellence for construction equipment in the UK and a national parts centre, the company said.
Molson’s turnover grew from £160m to more than £200m in the past year to September 2019. In 2016 it turned over just £88m.
Managing director Robin Powell said: “We are immensely proud of the business we’ve built over the past two decades and our partnership with BGF has helped us accelerate that growth and hit some significant milestones over the last 12 months. We have ambitious plans for the future, and we’re pleased to have BGF’s long-term funding and support to help us get there.”
Paul Oldham, BGF investor who sits on the board of Molson, added: “Molson has generated impressive growth across the UK and internationally in recent years, becoming an industry leader with a strong reputation and track record. Robin, Jonathan and the team at Molson remain committed to excellent customer service through their extensive global network and strong supplier relationships and we’re delighted to be supporting them through this exciting next stage of growth.”